Allianz to book a provision with respect to risks relating to the AllianzGI U.S. Structured Alpha Funds in the financial statements 2021; Allianz resolves on new share buy-back of up to 1 billion euros

With respect to the pending court and governmental proceedings in the U.S. in relation to the Structured Alpha Funds, Allianz anticipates settlements with major investors in those Funds shortly. In anticipation thereof and in light of current discussions with U.S. governmental authorities, Allianz today decided to book a provision of 3.7 billion euros in the financial statements 2021. This provision reduced the 2021 Group net income by 2.8 billion euros.

The anticipated settlements are an important step towards a resolution of the various proceedings. Discussions with remaining plaintiffs, the U.S. Department of Justice and the U.S. Securities and Exchange Commission remain ongoing and the timing and nature of any global or coordinated resolution of these matters is not certain. Therefore, as of today, the total financial impact of the Structured Alpha matter cannot be reliably estimated and Allianz SE expects to incur additional expenses before these matters are finally resolved.

In fiscal 2021, operating profit of Allianz Group increased by 24.6 percent to 13.4 billion euros. Shareholders’ net income declined by 2.9 percent to 6.6 billion euros. The Solvency II ratio reached 209 percent. In line with the dividend policy announced on December 2, 2021 the Board of Management intends to propose a dividend in the amount of 10.80 euros per share after 9.60 euros last year.

Allianz SE has further resolved today on a new share buy-back program for 2022. The volume of such new program will amount to up to 1 billion euros. Allianz SE will cancel all repurchased shares.

The Allianz Group is one of the world's leading insurers and asset managers with 126 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 716 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage nearly 1.8 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance  industry in the Dow Jones Sustainability Index. In 2021, over 155,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

*Including non-consolidated entities with Allianz customers.
** As of June 30, 2022

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Holger Klotz
Allianz SE
Kirti Pandey
Allianz SE
Johanna Oltmann
Allianz SE
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Further information

Allianz to book a provision with respect to risks relating to the AllianzGI U.S. Structured Alpha Funds in the financial statements 2021; Allianz resolves on new share buy-back of up to 1 billion euros

With respect to the pending court and governmental proceedings in the U.S. in relation to the Structured Alpha Funds, Allianz anticipates settlements with major investors in those Funds shortly. In anticipation thereof and in light of current discussions with U.S. governmental authorities, Allianz decided to book a provision of 3.7 billion euros in the financial statements 2021. Allianz SE has further resolved on a new share buy-back program for 2022.

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